MARKET UPDATE – SUMMER 2020
“It can only get better” is what I have been telling myself over the last six weeks or so since we had a virtual shutdown of the UK housing market. Words cannot describe what has happened over the last two months other than to say that when you actually know someone you have met and spoken to who actually passes away due to Coronavirus it makes it personal and I am sure some of you will have had family or friends who have passed away and I offer you my deepest sympathy.
However we need to look to the future and to move forward and I am pleased to confirm that on the 15th of May 2020 our office re-opened for business and we are now able to carry out viewing appointments on properties for sale and valuations by strict appointment and subject to social distancing measures. Being members of Propertymark (formally the National Association of Estate Agents) we have been given specific instructions on how to conduct ourselves when viewing properties both with buyers and sellers and we now have a strict regime in place for social distancing and PPE and you can now view properties safely and please visit our website at www.hoopersestateagents.co.uk for details of our latest available properties for sale. Whether your property is vacant or occupied we are now able to carry out market valuations for sale and letting purposes and we have made every effort to protect you and ourselves.
It will be interesting to see how the local housing market develops over the next few months as we have missed a large chunk of the favoured spring season for selling but I believe based on the enquiries I have been receiving for properties from buyers during the Lockdown and most recently since we re-opened our office last week I think the market will pick up quickly. Perhaps due to financial constraints and/or restrictions on flying we may find the normal July/August lull with people out of town on vacation may not happen this year in which case the market may run through from now until winter uninterrupted.
I think the key to success in selling your property over the next few months will be to be flexible on price and by agreement with your agent price your property slightly below what similar properties were selling for before the Lockdown so as to attract buyers and ensure you move.
Several people have asked me how I see the market developing over the next few months and during the lockdown I likened the market to a car with the brakes on and hopefully now the brakes are off the car will run normally and the market will pick up. It is too early to assess whether there will be a downturn in house prices but I will keep you updated as we go through the year and I guess it will also depend on how banks behave regarding lending as now more than ever we need them to be co-operative and flexible in their lending strategies to allow those who do want to buy to secure finance easily and keep the market moving.
I look forward to seeing you out and about locally as Lockdown eases and in the meantime I ask you to stay safe, keep well and keep your spirits up as I hope we will soon be out of this peculiar situation we find ourselves in.
Best wishes for successful house selling and buying over the next few months.
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